Global Corrugated Board Market Segmentation, By Product (Single Face Board, Single Wall Board, Double Wall Board, and Triple Wall Board), Application (Retail, Food and Drink, Consumer Goods, Industrial, and Shipping and Handling), Flute Type (A-Flute, B-Flute, C-Flute, E-Flute, F-Flute, and Others), Board Style (Single Face, Single Wall, Double Wall, and Triple Wall) – Industry Trends and Forecast to 2031.
Corrugated Board Market Analysis
According to the USDA, in 2023, U.S. consumers, businesses, and government entities spent USD 2.6 trillion on food and beverages. This expenditure on food and beverages in 2023 supports the growth of the corrugated board market as the demand for packaging materials in the food industry rises. Corrugated board is widely used for packaging food and beverages due to its durability, recyclability, and cost-effectiveness. With increased spending on food products, there is a corresponding rise in the need for efficient packaging solutions to protect and transport these goods, driving the demand for corrugated board in the market. Additionally, the increasing focus on eco-friendly packaging solutions is boosting the demand for corrugated boards, as they are made from renewable materials and are easily recyclable. Manufacturers are also innovating with advanced printing technologies, allowing for customizable designs and branding on packaging, further enhancing market demand.
Corrugated Board Market Size
Global corrugated board market size was valued at USD 108.75 billion in 2023 and is projected to reach USD 175.96 billion by 2031, with a CAGR of 6.20% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Corrugated Board Market Trends
“Growth in Automotive and Electronics Sectors”
The increasing demand for protective packaging in the automotive and electronics industries is creating a significant opportunity for corrugated board manufacturers to develop specialized solutions. Both industries require packaging that not only safeguards sensitive and often fragile components during transportation but also ensures cost efficiency and sustainability. Corrugated boards, known for their strength, lightweight nature, and adaptability, are becoming the preferred choice for these sectors. In the automotive industry, parts and components are often large, heavy, and irregularly shaped, necessitating custom packaging designs, while in electronics, the packaging must prevent static and offer cushioning to delicate products. As these sectors continue to grow, particularly in emerging markets, there is a rising demand for corrugated board manufacturers to provide innovative and tailored packaging solutions that meet the specific needs of these industries.
Report Scope and Market Segmentation
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Attributes
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Corrugated Board Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
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Key Market Players
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DS Smith (U.K.), International Paper (U.S.), Mondi (U.K.), Cascades Inc. (Canada), AMERICAN BOX COMPANY (U.S.), U.S. Corrugated, Inc. (U.S.), Georgia-Pacific (U.S.), Koch Industries Inc. (U.S.), Menasha Corporation (U.S.), Rengo Co., Ltd (Japan), Green Bay Packaging Inc. (U.S.), WestRock Company (U.S.), NIPPON PAPER INDUSTRIES CO., LTD. (Japan), Smurfit Kappa (Ireland), Stora Enso (Finland), and Sonoco Products Company (U.S.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Corrugated Board Market Definition
Corrugated board is a type of packaging material made from a fluted corrugated sheet and one or two flat linerboards. It is designed to be lightweight yet strong, providing durability and protection for packaged goods. The fluted inner layer (corrugation) creates air pockets, which add strength and cushioning, making corrugated board an ideal material for shipping boxes, storage containers, and various packaging applications.
Corrugated Board Market Dynamics
Drivers
- Rising Demand for Consumer Goods
The increasing consumption of consumer goods, particularly in the food and beverage, electronics, and personal care sectors, is driving the demand for reliable and efficient packaging solutions. As consumers continue to purchase more products, manufacturers require packaging materials that are durable, cost-effective, and capable of protecting goods during transportation. For instance, according to the USDA 5.0% increase in average annual food-at-home prices in 2023, which supports the growth of the corrugated board market by driving up the demand for packaging solutions. As food prices rise, manufacturers and retailers may prioritize protective and cost-efficient packaging like corrugated boards to maintain product quality during transportation and storage. Additionally, with more consumers purchasing food for home consumption, the need for durable, lightweight, and sustainable packaging materials grows, further boosting demand for corrugated boards in the food industry. The growth of these sectors, especially with the rise in e-commerce and global trade, further bolsters the need for robust packaging solutions such as corrugated boards.
- Increased Industrialization in Emerging Markets
The rapid pace of industrialization in emerging regions, particularly in Asia-Pacific, is significantly boosting the demand for corrugated board packaging in manufacturing and logistics. With industries expanding their operations in countries such as China and India, the need for reliable packaging to facilitate the safe transport of products has grown. The booming logistics and supply chain sectors in these regions also depend heavily on corrugated boards to ensure products are securely packed and delivered. As industrial activities intensify, the demand for corrugated board solutions is expected to rise further in these markets.
Opportunities
- Innovation in Material Technology
Ongoing innovations in material technology are opening new opportunities for the corrugated board market, particularly with the development of moisture-resistant and lightweight variants. These advanced materials make corrugated boards more versatile, allowing them to be used in industries such as food, where packaging needs to prevent moisture damage. Additionally, lightweight corrugated boards reduce transportation costs while maintaining strength and durability. As industries seek more efficient packaging options, continued innovations in corrugated materials will likely fuel market growth by expanding the scope of applications.
- Growth in Sustainable Packaging Solutions
As sustainability becomes a central focus for industries worldwide, there is growing demand for eco-friendly packaging solutions. The corrugated board market has the potential to benefit from this trend, with opportunities to develop biodegradable and environmentally friendly materials. Companies are increasingly adopting packaging that reduces environmental impact, and corrugated boards made from recyclable and renewable resources fit this requirement. The shift towards sustainable packaging not only appeals to environmentally conscious consumers but also helps businesses meet regulatory requirements and sustainability goals, creating significant growth opportunities for the market.
Restraints/Challenges
- Fluctuations in Raw Material Prices
One of the key challenges facing the corrugated board market is the volatility in raw material prices, particularly paper and wood pulp. These fluctuations can impact the profitability of manufacturers as the cost of production rises and falls unpredictably. For companies operating in cost-sensitive markets, rising raw material costs may reduce their ability to compete effectively, as they may need to pass on the increased costs to consumers. To mitigate these risks, manufacturers are exploring more efficient production processes and alternative sources of materials, though this issue remains a significant restraint on the market.
- Competition from Alternative Packaging Materials
The corrugated board market faces competition from alternative packaging materials such as plastic and metal, which can offer different advantages depending on the application. Plastics, for example, are often preferred for their lightweight nature and durability, while metals are used for heavy-duty applications requiring stronger packaging. As these materials offer distinct benefits, they may limit the growth potential of corrugated boards in certain industries where specialized packaging is needed.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Corrugated Board Market Scope
The market is segmented on the basis of product, application, flute type, and board style. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Single Face Board
- Single Wall Board
- Double Wall Board
- Triple Wall Board
Application
- Retail
- Food and Drink
- Consumer Goods
- Industrial
- Shipping
- Handling
Flute Type
- A-Flute
- B-Flute
- C-Flute
- E-Flute
- F-Flute
- Others
Board Style
- Single Face
- Single Wall
- Double Wall
- Triple Wall
Corrugated Board Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, product, application, flute type, and board style as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
Asia-Pacific is expected to dominate the market due to the rapidly growing demand for processed food and beverages, particularly in the emerging economies of India, Malaysia, Indonesia, and China. As these countries experience economic growth and urbanization, consumer preferences are shifting towards packaged and processed food products, which require efficient and protective packaging.
North America is expected to be the fastest growing due to the region's increasing exports of fruits and vegetables, which necessitate reliable packaging solutions to maintain product freshness and quality during transportation. Corrugated boards, offering superior protection and sustainability, are becoming the packaging material of choice for agricultural exports.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Corrugated Board Market Share
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Corrugated Board Market Leaders Operating in the Market Are:
- DS Smith (U.K.)
- International Paper (U.S.)
- Mondi (U.K.)
- Cascades Inc. (Canada)
- AMERICAN BOX COMPANY (U.S.)
- U.S. Corrugated, Inc. (U.S.)
- Georgia-Pacific (U.S.)
- Koch Industries Inc. (U.S.)
- Menasha Corporation (U.S.)
- Rengo Co., Ltd (Japan)
- Green Bay Packaging Inc. (U.S.)
- WestRock Company (U.S.)
- NIPPON PAPER INDUSTRIES CO., LTD. (Japan)
- Smurfit Kappa (Ireland)
- Stora Enso (Finland)
- Sonoco Products Company (U.S.)
Latest Developments in Corrugated Board Market
- In July 2022, WestRock Co., a U.S.-based containerboard and packaging manufacturer, announced an agreement to acquire the remaining interest in Grupo Gondi for USD 970 million, along with the assumption of debt. WestRock stated that the completion of this transaction would strengthen its presence in the expanding Latin American containerboard, consumer, and corrugated packaging markets
- In February 2022, Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, announced its agreement to acquire the assets of Color-Box, a business unit of Georgia-Pacific, LLC. The acquisition was expected to be finalized by early summer 2022
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